The Dodd-Frank Wall Street Reform and Consumer Protection Act and particularly Title X, known as the “Consumer Financial Protection Act of 2010”, creates a new agency, the Bureau of Consumer Financial Protection, established within the Federal Reserve System, which “shall regulate the offering and provision of consumer financial products or services under the Federal consumer financial laws.”

Official rulemaking, which will govern more specifically the role of this new agency, has not been issued yet. It is anticipated that the CFPB’s role may overlap substantially with the FTC’s activities. [UPDATE: for detailed information on the CFPB, including regulations it has issued since 2012, see the CFPB website.]